Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

Sadly, you don't understand basic economics. The truth is that every individual business will make a decision on how they can best position themselves for a successful future. The implication of your question is: if we make it harder for businesses to be successful and to compete, do you think they'll employ more people? Do you think that a less profitable business will employ more people? Let me tell you: less successful, less profitable businesses, businesses with their arms tied behind their backs because they've got to compete with businesses that have the benefit of lower taxes, will hire fewer people. And that means higher unemployment. Higher unemployment means that there is less competition for workers, which means that there will actually be lower wages than otherwise would be the case. Your recipe of opposing business tax cuts is a recipe for less investment, fewer jobs and lower wages. Our agenda is about more investment, more jobs and higher wages.